The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Rav materials Work in process Finished goods $123,200 118,200 77,700 $85,800 146,800 80,800 During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. $119,500 101,400 61,300 356,000
The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances Rav materials Work in process Finished goods $123,200 118,200 77,700 $85,800 146,800 80,800 During April Costs of raw materials purchased Costs of direct labor Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement. $119,500 101,400 61,300 356,000
Chapter5: Process Costing
Section: Chapter Questions
Problem 13PB: Selected information from Hernandez Corporation shows the following: Prepare journal entries to...
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